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Dubai
International Financial Center [DIFC]
The DIFC is the world's newest international financial
centre. It aims to develop the same stature as
New York
,
London
and
Hong Kong
.
It primarily serves the vast region between Western
Europe and
East Asia
.
Since it opened in September 2004, the DIFC has
attracted high caliber firms from around the globe as
well as its region. A world-class stock exchange, the
Dubai International Financial Exchange (DIFX), opened in
the DIFC in September 2005
The DIFC focuses on several sectors of financial activity:
Banking Services (Investment Banking, Corporate Banking
& Private Banking); Capital Markets (Equity, Debt
Instruments, Derivatives and Commodity Trading); Asset
Management and Fund Registration; Insurance and
Re-insurance; Islamic Finance & Professional Service
Providers.
Services
Registrar of Companies office is
responsible for registration of legal entities in DIFC.
It also has a key role in providing information on DIFC
entities.
The main functions of Registrar of
Companies are to:
-
incorporate/register
and dissolve DIFC entities;
-
examine
and store DIFC entities information delivered under
the applicable laws and regulations; and
-
make
this information available to the public.
The role of the Registrar of Companies staff is to advise on,
receive, review and process all applications submitted
by prospective DIFC registrants seeking to establish a
presence in the DIFC in accordance with the Companies
Law, the General Partnership Law, the Limited Liability
Partnerships Law, or Limited Partnership Law and the
implementing regulations applicable thereto.
Benefits
of Setting up in the DIFC
Institutions
establishing in the DIFC can potentially gain from the
following key benefits:
-
100 percent foreign ownership.
-
Zero percent tax rate on income and profits.
-
An extensive tax treaty network for UAE incorporated
entities.
-
Freedom to repatriate capital and profits - without
restrictions.
-
Internationally accepted laws and regulatory
processes.
-
A world-class, independent, regulatory agency
working alongside other financial regulatory
agencies located in major global jurisdictions.
-
A wholly transparent operating environment,
complying with global best practices.
-
A dollar denominated environment.
-
An international stock exchange with primary and
secondary listings of debt and equity
instruments.
-
A variety of legal vehicles that may be established
with capital structuring flexibility.
-
A pool of skilled professionals residing in
Dubai
and the region.
-
A modern and efficient transport, communications and
internet infrastructure.
-
A responsive one - stop shop service for visas, work
permits and other related requirements.
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